Friday, January 8, 2010
Futures Point to a Lower Open...
1:43 pm ET - I alerted you right after the open of the swing in X from negative in the pre-market to positive at the open...it is now up $4.40 with many option strikes up more than 100% for the day...I hope you had or took a position here and had a great day...our intermediate term real time virtual trade in 50 Apr 60 calls that we entered on Nov 18 at 1.06 is trading right now for a bid of 9.25 that is a gain of $8.19 or 713%...we also have 70 Feb 60 calls that we scaled into between Dec 28 to Dec 30 at an average cost of $2.153 that is trading at 7.50 bid which is a gain of 5.347 or 248%...since the trades are not closed these are unrealized gains at this time...these are great examples of what types of gains can be achieved when traders act on great chart signals...the chart signals opportunties before they happen if you know what you are looking for...
9:31 am ET - X just went from -0.31 in pre-market trading to positive +0.44 in regular trading...
BMO – ES -3.25 and NQ -7.50 futures are mixed in pre-market trading pointing to a flat to slightly lower open. AAPL -0.52, AMZN +0.50, GOOG -2.83 and BIDU -3.93 are mostly lower in pre-market trading.
The Euro is up 81 pips in overnight trading. Oil is down 25 cents in electronic trading. XLE is down 31 cents in pre-market trading.
SPY is down 35 cents in pre-market trading. XLF is down 2 cents in pre-market trading. Continue to watch XLF as a key to sustain the breakout in the SPX.
There is still a 1,234 chart target for the end of January, we’ll watch closely to see if the time frame is realistic or will need adjustment. Remember direction and price target are more important than time.
While trading with the trend continue to watch for your signals for a potential pull back. Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,125 – 1,133, 1,106 - 1,117
Resistance = 1,145
Trading Down: X, RIMM, POT, AKAM, PCLN
Trading Up: AGU
At the Open on Friday
SPY –
QQQQ –
FAS –
X –
AAPL –
AKAM –
AMZN –
CREE –
KLAC –
LRCX –
NVDA –
RIMM –
BUCY –
DECK –
FLIR –
FWLT –
ISRG –
NFLX –
PCLN –
STLD –
UAUA –
ACN –
AGU –
AMD –
CAT –
CME –
DE –
DOW –
ICE –
MA –
PCP –
POT –
UNP –
WHR –
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10 comments:
X is on fire today! Wow!
Oh my Gosh...I know..... X, amoung others, were down this morning and now they are up- (X is just blowing me away!!)
It just goes to show how important it is for me to maintain 'mental flexibility' and patience, (like Dave has taught us so many times), in the market!
I hope you are feeling better, Dave-
Have a wonderful weekend!
Laney
Dave,
Thanks for the heads up, but I have maxed out all my money, got into zion yesterday up 100% by the end of the day, I broke my rule, there was no entry but couldn't pass up the option trade. Yes the X trade is pretty. Its seems it doesn't matter what option I trade cannot loose.
Have to control my emotions
Thanks 50 BDK
The X trade is a great one Dave!!! I hope there are more like this one during 2010. Thanks for your continued insights. Peter Karrys
Hi Dave -
Had to respond here - yes X is definitely a high point today. Making money for me in Dec. and Jan. It's a great counterpoint to my GOOG trades (ha!). More fun than anything else I can think of right now - is reading and acting on chart signals!!!
Leslie
Can't wait for the Market Cast on TOS today! X has made my day - heck, X has made my week!
Dave:
Thank for another Fantabulous AIT last night.
I'm taking your info and counsel to heart and action this weekend.
Discipline, Processes, Focus, Rules and Goals.
Thanks again.
Robert
CANI_212
PS1: Hope you're feelin' better.
PS2: Thank you for X, CREE, and FWLT.
Wow,
X and AKS were "to-the-moon" today! Thanks for highlighting X Dave which I am happy to be riding on the way to 70. I took a bounce trade previously on AKS and a breakout trade on AGU in early November. Exercised discipline and stuck with them. Closed out 1/2 of the January options in each today as they are close to their targets and I wanted to lock in some profits. AKS up 374%, AGU up 687%. This is only happening because I am paying attention to what you have to teach.
Thanks again for all you do and hope you are feeling better Dave.
Brian
Dave, To supplement my earlier post, I could only afford to buy 1 X Feb 60 at 2.05 on 12/31, which I closed today - when it hit 7.70 and am so pleased with the results (375%). I decided to close because it was getting within range of my target AND it moves SOOOO much today--unbelievable (but I believe it!). Still have FWLT Feb 32 and May 38 calls, both doing very nicely. Also in WYNN Feb 65 and Mar 75 calls. Just wanted you to know that I had sort of lost my faith before finding your trading rooms, but thanks to your encouragement and support, I am doing much better. Thanks for sharing trading ideas, rules, what types of stocks you trade and why, what you avoid and why, and your always-fun trading rooms. I am getting the faith back and looking forward to trading more in the future. Have a great weekend. Judy G.
Judy, I can so relate to what you say! I was also at a place in my trading that i just didn't know which direction to take-I was going in Too many directions at once..
Then, we went and listened to Dave 'live'- Since that time, my direction, focus and success have all increased and keep on increasing!
I know when you see it actually happen, it is such a rush- I say to myself; wow,I Really Can do this! There is nothing like it-
I am a believer and committed 100% now. And it is in large part, because of that time back in August 2008 when I went and listened to Dave, that was pivotal in turning me around.
Thank you for sharing your story with us.. I am so happy to hear about your successes!
Laney
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